Greece's OPAP hits record revenue, boosted by online casino and sports betting

Greece's biggest gaming firm OPAP reported its highest ever annual gross gaming revenue on Wednesday, driven by the strong performance of online casino games and sports betting.

GGR for 2024 climbed 10 per cent to 2.30 billion euros ($2.50 billion), up from 2.09 billion euros a year earlier, while recurring net profit grew 11.9 per cent year-on-year to 491.6 million euros.

"Our online activities reached new highs, accounting for 32 per cent of the group’s GGR," OPAP's Chief Executive Jan Karas said in a statement.

Revenues from the online casino segment soared 29.2 per cent on the year, driven by strong demand from new and existing players, with total betting revenues being higher by 15.6 per cent, OPAP said.

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For 2025, it anticipates low single digit growth in its GGR with the earnings before interest, taxation, depreciation and amortisation (EBITDA) margin projected to be around 35 per cent.

The Athens-listed group plans to distribute a remaining dividend of 0.80 euros per share in May, in addition to the already paid interim dividend of 0.60 euros per share.

($1 = 0.9187 euros)